Does anyone have any recommendations for accounting software for a large art dealer? The requirements are:
- It needs to be a robust multi-user system that can support up to a dozen users, with user access controls.
- It can dela with the various special VAT schemes for art dealers (margin scheme, 5% import VAT, etc.) as well as standard VAT and maintain a stock book as per HMRC's requirements.
- Account for Artist Rights Royalties (Droit de Suite).
- Stock control with multiple stock locations.
- Multi-currency accounting.
- Deal with half shares.
My client wants someting that is reliable and comprehensive. Currently using Quickbooks online with a stock book on a spreadsheet. It takes too long each month to reconcile the stock book with Quickbooks as the spreadhseet is easy to change and there is no audit trail. The year end audit takes too long.
Thanks in advance for any assistance received.
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Replies (3)
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Doesn't your 'large art dealer' (I presume it's the firm that's large?) have any contacts in the industry who could offer some recommendations?
By large I mean turnover of £30m and stock of £8m - £10m.
Most of the other similar dealers use either a bespoke system which is very expensive to develop and my client does not want to do this, or a combination of spreadsheets and Sage or similar.
I am just trying to point them in the right direction as to which suppliers/software systems they need to consider.
I doubt you will get all you require from a off the shelf software. The nearest thing would be the same sort of software a pawn shops use.
With a turnover of £ 30m, i am sure your client could afford a bespoke solution. It is not as expensive as you may think.
